African American Small Business Foundation Mobilizes National Support to Close Economic Equity Gap

NEW YORK, New York — The African American Small Business Foundation today reaffirmed its mission to expand opportunity for Black entrepreneurs nationwide, as renewed media focus on economic disparities and access to capital underscores the urgency of its work.

As Black-owned businesses continue to face systemic funding barriers, the Foundation is accelerating programs that link entrepreneurs to financing, training and strategic networks.

Black-owned businesses are growing but still face disproportionate challenges securing financial support compared with white-owned firms, according to recent reporting on capital access gaps for Black business owners.

Phil Andrews, President of the African American Small Business Foundation, Inc. address donors in New York

“African American entrepreneurship is a critical engine for community prosperity,” said Phil “Andrews, Founding President of the African American Small Business Foundation. “At a time when national conversations are centered on racial economic equity, our donors and partners have an opportunity to accelerate results in communities that have been historically underserved.”

The Foundation’s 2026–2027 initiatives, recently covered by Black Enterprise, include expanded capital readiness programs, mentoring cohorts, technical assistance and advocacy to reduce barriers that Black entrepreneurs face. These programs align with national media narratives that stress both the promise and challenges of Black businesses in today’s economy.

Key recent developments:

• National Recognition: The Foundation was cited for its impact and inclusion on the corporate giving platform Benevity, expanding visibility among Fortune 500 donor channels.
• Year-End Giving Campaign: During last year’s Giving Tuesday, AASBF launched a fundraising drive to fuel its 2026 efforts, spotlighted by national media and industry outlets.

The national climate for Black entrepreneurs remains a central topic in news coverage, from expanded corporate initiatives to support Black founders to ongoing discussions about equity in access to capital and procurement opportunities across sectors.

Strong Call to Action for Donors and Supporters

The African American Small Business Foundation calls on individuals, corporations, and philanthropic partners to invest in a proven strategy for economic mobility:

• Make a multi-year financial commitment to fuel capital access, mentorship and business growth programs;
• Partner with us on matching gift campaigns to multiply the impact of individual donors;
• Sponsor training cohorts that empower entrepreneurs with business planning, finance and digital readiness skills;
• Spread the word: Share stories of Black entrepreneurship and systemic barriers in your networks.

“Supporting Black small businesses is not charity it is a strategic investment in economic resilience, job creation, and community wealth,” said Rose Ward. “Together, we can shift the narrative and build lasting opportunity.”

For more information about the African American Small Business Foundation’s work, national impact, and ways to support, visit: https://www.zeffy.com/en-US/do...

About the African American Small Business Foundation: The African American Small Business Foundation is a 501(c)(3) nonprofit dedicated to empowering Black entrepreneurs with access to capital, business education, mentorship and advocacy. Its mission is to catalyze economic equity and build generational prosperity for communities across the United States.